AvaFX partners with ayondo - a new signal following platform

It seems Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term signal/trade following is the biggest trend now with just about everybody offering their own version of this - Currensee, Tradency, Zulutrade, FxStat, fxjunction, Collective2 and eToro just to name a few. Each of these providers has its own platform with or without social aspects, some offer signal trading, others actual traders following. Some platforms are very simple, others are advanced are professional.

Today we see AvaFX (one of the fastest growing fx brokers) partnering with ayondo - a relatively unknown/new signal following service. ayondo seems to be based in Germany and has also partnered with UK based ActivTrades.

ayondo allows traders to follow signals from a list of over 500 available signal providers. Unlike Currensee's Trade Leaders or FxStat's Market Leaders who compensate signal providers/traders only from successful trades, ayondo like most other networks compensates signal providers based on volume ($3 for profitable trade and $1 for unprofitable trade). This way ayondo tries to deliver volume based compensation with profitability incentive.

Other than that it doesn't seem to be different from any other signal/trade following platform out there.

We've discussed the autotrading/social forex platforms extensively in the Q2 2011 Report and monitor them on a quarterly basis in the Q3 Report available here.